Canadian dollar up slightly ahead of BoC report

Thu Jul 17, 2008 9:39am EDT
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* Canadian dollar up slightly against greenback

* Bank of Canada Monetary Policy Report Update in focus

* Bond prices track larger U.S. market lower

By John McCrank

TORONTO, July 17 (Reuters) - The Canadian dollar rose slightly against the U.S. dollar on Thursday ahead of the Bank of Canada's Monetary Policy Report Update, due at 10:30 a.m. (1430 GMT).

Domestic bond prices fell along with the U.S. market on some stronger than expected U.S. housing data.

At 9:24 a.m., the Canadian dollar was at C$1.0010 to the U.S. dollar, or 99.90 U.S. cents, up slightly from C$1.0022 to the U.S. dollar, or 99.78 U.S. cents, at Wednesday's close.

The currency spent the overnight session in a tight range of C$1.0130 and 99.95 Canadian cents.

The Bank of Canada holds a news conference at 11:15 a.m., where investors will be seek insight into its view on topics like inflation, the impact of the U.S. slowdown on Canadian growth and the cooling housing market.   Continued...